HSBC Bank Personal Loan

When financial needs arise, such as funding your daughter's wedding, renovating your home, covering higher education expenses, or planning a family vacation, HSBC Personal Loan is there to support you.

With interest rates ranging from 9.99% p.a. to 16.00% p.a., HSBC bank personal loans cater to various needs, including home-related expenses, marriage, travel, loan transfers, consumer durables, and other personal contingencies.

Hence, if you are planning to avail you loan desired loan from HSBC Bank, read further for more details:

HSBC Bank Personal Loan Interest Rates

Interest Rate 9.99% p.a - 16.00%p.a
Processing fee 2%
Loan Amount Starting from ₹10,000 to ₹15 Lakhs
Tenure Upto 5 years
Full/ Partial Repayment charges 5% within 1 year of tenure, 4% within 2 years, 3% within 3 years, and 2 % after 3 years

HSBC Bank Personal Loan Eligibility

These eligibility criteria ensure that the applicants are within a specified age range, are residents or citizens of India, and have an existing relationship with HSBC through an active account. Meeting these requirements is crucial for a successful application for the HSBC Personal Loan for Electric Vehicle.

  • Age Requirements: 21 to 65 years old.
  • Citizenship: Indian
  • Employment Status: Applicants must be either employed or self-employed.
  • Active HSBC Account: The applicant must have an active HSBC current and/or savings account that has been open for over 3 months.
  • Non-Resident Indian (NRI) Exclusion: Non-resident Indian (NRI) customers are not eligible to apply for this loan.

HSBC Bank Personal Loan EMI Calculation

The Equated Monthly Installment (EMI) calculation is a crucial aspect of any personal loan, including those offered by HSBC Bank. The EMI represents the fixed monthly repayment amount that borrowers need to pay towards their loan, covering both principal and interest components. Now, understanding and calculating EMI is even more convenient with the personal loan EMI calculator below.

Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Comparison of HSBC Bank Personal Loan Vs Other Banks

Get assess to aspects that help you determine which personal loan suits best with your financial needs.The table below provides, HSBC Bank Personal Loans interest rate with the interest rate offered by other financial institutions:

Top Banks/NBFCs Interest Rates(p.a.)
HSBC 9.99% p.a onwards
Bank of Baroda 10.90% onwards
HDFC Bank 10.50% onwards
SBI 11.00% onwards

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Features of HSBC Bank Personal Loan

HSBC's Personal Loans aims to meet various requirements of its customers.Here are the distinctive features that make HSBC Bank's Personal Loans make the right choice for your financial needs:

  • Flexible Loan Amount:HSBC typically offers a flexible loan amount, allowing borrowers to choose a loan that suits their financial needs.
  • Interest Rates:Personal loans from HSBC often come with competitive interest rates to make borrowing more affordable for eligible customers.
  • Quick Approval and Disbursement:HSBC aims to provide a swift approval process, and upon approval, funds are disbursed quickly to meet the immediate financial requirements of the customers.
  • No Collateral Required:Personal loans from HSBC are usually unsecured, meaning borrowers do not need to provide any collateral or security.
  • Convenient Repayment Tenures:HSBC offers a range of repayment tenures, allowing borrowers to choose a duration that aligns with their financial capabilities.
  • Balance Transfer Facility:HSBC may provide a balance transfer facility, allowing borrowers to transfer their existing high-interest personal loan to HSBC for potentially better terms.
  • Online Account Management:HSBC provides online account management facilities, enabling customers to check their loan status, view statements, and make payments conveniently.

HSBC Bank Personal Loan Documents Required

Ensuring that you have these documents ready will streamline the application process for an HSBC Bank Personal Loan. Note to verify with‌ the bank for any updated changes in the documentation process.

1. Duly-Filled Application Form: Complete the application form and ensure it's attested by you, the applicant

2. Photograph: Include one recent passport-size photograph.

3.Proof of Identification: Passport, Voter ID, Driver's License, PAN card, Aadhaar card, or any other government-issued ID.

4. Proof of Residence: Passport, Voter ID, Utility Bills (electricity or water), Driver's License, or Aadhaar card.

5. Proof of Age: Furnish proof of your age with documents like Passport, Driver's License, PAN card, or Birth Certificate.

6. Income Documents: Include your latest salary slips or Form 16 as proof of income.

7. Bank Statements: Submit your salary account statements for the last 3 months.

HSBC Bank Personal Loan for Vehicle

HSBC's Personal Loan for Electric Vehicle (EV) is designed to provide convenient financing for individuals looking to purchase an electric vehicle. Here are the key features, rates, and charges associated with HSBC's Personal Loan for Electric Vehicle:

  • No Hypothecation: The loan does not require hypothecation of the electric vehicle, providing flexibility in ownership.
  • No Documentation Charges: Customers are not burdened with additional documentation charges, making the application process more cost-effective.
  • No Foreclosure Charges: Borrowers can opt for foreclosure without incurring any charges for loans with tenors up to 2 years.
  • Normal Foreclosure: For loans with tenures exceeding 2 years, the normal foreclosure grid will apply.

Easy Steps to Apply for HSBC Personal Loan with Buddy Loan

You can apply for an instant personal loan from among a pool of RBI approved lenders on Buddy Loan. Here are the general steps and guidelines to apply for a personal loan with Buddy loan:

  • Step 1: Visit or Download & install the Buddy Loan app (Android or iOS).
  • Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
  • Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
  • Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
  • Step 5: Enter your work details (Including company name, years of service and Designation)
  • Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
  • Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Frequently Asked Questions

Repayments can be made through various channels, including online transfers, standing instructions, or by visiting an HSBC branch.

Yes, HSBC generally allows borrowers to make extra payments towards their personal loan, helping expedite the repayment process.

Missing a monthly repayment may lead to late fees and negatively impact your credit score. Contact HSBC to discuss options if facing financial challenges.

Yes, late payment fees may apply. It's advisable to review the loan agreement or contact HSBC for specific details on penalties.

Specific salary requirements may vary. Check with HSBC for the latest information on eligibility criteria.

HSBC Personal Loans provides you with a personal loan at an interest rate of 9.99% p.a

HSBC typically offers a range of loan repayment tenures. The specific terms may vary, so inquire with the bank for options that suit your preferences.

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